Molecular Templates Approves Liquidation, Wind Up of Company

Dow Jones

2024-10-12

By Connor Hart

Molecular Templates' board unanimously approved the liquidation and wind up of the company.

The Austin, Texas-based biotechnology company it intends to call a special meeting of its stockholders to seek approval of a distribution plan, adding it will file proxy materials relating to the special meeting as soon as practicable, according to a Securities and Exchange filing on Friday.

The company, which began exploring strategic alternatives with third-party advisers more than a year ago, said that there are no other options currently available. The company doesn't expect its stockholders will receive value for their shares in connection with a dissolution.

Molecular Templates will continue to pursue strategic alternatives and potential funding sources as it moves forward with the liquidation and wind up.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

October 11, 2024 17:08 ET (21:08 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The company doesn't expect its stockholders will receive value for their shares in connection with a dissolution.Molecular Templates will continue to pursue strategic alternatives and potential funding sources as it moves forward with the liquidation and wind up.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MTEM":"Molecular Templates, Inc.","BK4139":"生物科技"},"translate_title":"分子模板批准公司清算和清盘","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MTEM":0.9},"content_text":"By Connor Hart \n\n\n  Molecular Templates' board unanimously approved the liquidation and wind up of the company. \n\n\n  The Austin, Texas-based biotechnology company it intends to call a special meeting of its stockholders to seek approval of a distribution plan, adding it will file proxy materials relating to the special meeting as soon as practicable, according to a Securities and Exchange filing on Friday. \n\n\n  The company, which began exploring strategic alternatives with third-party advisers more than a year ago, said that there are no other options currently available. The company doesn't expect its stockholders will receive value for their shares in connection with a dissolution. \n\n\n  Molecular Templates will continue to pursue strategic alternatives and potential funding sources as it moves forward with the liquidation and wind up. \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 11, 2024 17:08 ET (21:08 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}